42502 Melanie PlPalm Desert, CA 92211

Property Details for 42502 Melanie Pl

Year built

1991

Construction

TILT-UP CONCRETE

Lot size

0.55 AC

Property size (Sq ft)

8,012 SF

Zone code

CPS

Property type

Industrial properties

Property subtype

Manufacturing properties

APN

634-260-009

APU

634260009

Description

This exceptional single-tenant, absolute NNN industrial warehouse, located at 42502 Melanie Pl, Palm Desert, CA 92211, presents a compelling investment opportunity. The 9,000 square-foot building, constructed in 1991 and situated on a 0.55-acre lot, boasts a 16-foot ceiling height, one loading dock with one dock-high door. Currently leased at 100% occupancy with a corporate guarantee from a subsidiary of The Home Depot, the lease commenced August 8, 2010, and expires August 7, 2027, leaving approximately 2.7 years remaining. The property features annual rent bumps tied to the CPI, ensuring consistent income growth. With a current NOI of $114,972 and an asking price of $2,395,000, this translates to an attractive 4.80% cap rate. The property is zoned SI Service Industrial and offers a secure, long-term investment with minimal landlord responsibilities. This is a rare opportunity to acquire a high-quality, single-tenant industrial asset in the desirable Cook Street area of Palm Desert, within the greater Coachella Valley/Palm Springs submarket. The property's strong tenant, lease terms, and location make it an ideal addition to any investment portfolio. The property's APN is 634-260-009.

Location Insight

City

Palm Desert

County

Riverside

State

California

Latitude

33.7396

Longitude

-116.352

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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